1.
This type of investor is defined as one who has a net worth of greater than $1,000,000
2.
Prime brokerage accounts are generally offered to a broker-dealer’s more _____ trading clients, such as a hedge fund
3.
The “A” under discretionary orders that describes buy or sell
4.
In a(n) _________ account, Registered Investment Advisers provide investment advice to their clients for a fee
5.
The best efforts underwriter is acting in an _______ capacity with no financial risk
6.
The “A” under discretionary orders that describes the number of shares
7.
A radio interview is a public _________
8.
All retail communication is subject to ______ by a principal before use
9.
The “A” under discretionary orders that describes the security
10.
In a ________ arrangement, the underwriter makes a good faith promise to the issuer to sell as much of their securities offering as possible without financial liability for what remains unsold
11.
_______ laws require registration of securities, broker-dealers and registered representative at the state level
12.
The firm in which must complete the transfer of an account
13.
A ______ account requires a customer to pay in full for any securities purchased
15.
The loan in a margin account is ________ by the securities purchased and cash
16.
Accounts with a low level of trading activity may be better off with ________-based charges
17.
Any income and any real or personal property acquired by either spouse during a marriage are considered ________ property and thus belong to both partners of the marriage
18.
________ bid underwriting arrangements is the standard for new issue offerings in the municipal securities market
19.
Selling group members are paid a selling ______
20.
Predictions in public communications are a violation of the ________ Rules
21.
In determining whether a communication is misleading, FINRA calls for consideration of the overall ________ of the statement, where a statement is misleading in one context may be appropriate in another
22.
During the ______ period, a registered representative may gather indications of interest
23.
The form of state registration where the issuer registers simultaneously with the state and the SEC and both registrations become effective on the same date
24.
With ________-specific suitability, the registered representative must ensure that a product is a good fit for a specific client
25.
If the prospectus has been filed with the SEC and is available through its website, access to the prospectus equals ______ of the prospectus
26.
Issuers and underwriters will conduct this type of meeting to ensure that the prospectus is true and accurate
27.
In a best efforts underwriting commitment, the underwriter collects customer money into an _____ account
28.
In a prime brokerage account, the firms that handles all trades placed by the customer are called the _______ brokers
29.
U.S. government, U.S. municipalities, and nonprofit religious organizations are some of the issuers that are ______ from SEC registration
30.
A _______ prospectus must precede or accompany all sales confirmations
31.
This type of underwriting agreement is the most commonly used where the underwriter commits to buying the securities from the issuer and reselling them to the public
32.
________ accounts charge a single fee instead of commission based charges
33.
_______ power of attorney allows someone who is not the owner of the account to deposit or withdraw cash or securities, as well as make investment decisions
34.
A(n) __________ advertisement can never mention the name of a specific security being advertised.
35.
Sales presentations of mutual funds should include a statement indicating that past performance is no ________ of future results
36.
In a mutual fund communication, past performance must be shown for a minimum of 10 years or since _______ of the fund
37.
A sole proprietorship account is treated like a(n) ________ account
38.
An _______ is any person who has access to nonpublic information about a company
39.
Rule 147 is regarding _______ offerings
40.
An article on investing published by the Wall Street Journal may be reprinted and used by a member without altering the article is called a(n) ________
41.
In this type of account, the parties involved may have unequal interest
42.
In this type of account, all parties must have equal undivided interests
43.
Any sales literature that contains performance data for an investment company must include a ______ disclosing that the that the performance data quoted represents past performance
44.
________ power of attorney allows someone who is not the owner of the account to enter buy and sell orders only
45.
A _________ account is a brokerage account in which the broker lends the customer cash to purchase stocks or other financial products
46.
If the value of the securities in a margin account declines significantly, the customer may be subject to a ________
47.
information buried in footnotes are likely to confuse the reader and could be construed as ________
48.
The _______ requires that any investment company whose name implies a certain type of security must have at least 80% of its assets invested as implied
49.
________ underwriting contracts are used most in corporate issues
50.
_______ arrangements is an arrangement between a member broker-dealer and a financial institution where the firm must be clearly identified and be physically separate from the routine retail deposit-taking activities of the financial institution
51.
An official __________ is used to obtain an underwriter for municipal bonds.
52.
The full and fair disclosure for municipal securities is the ______ statement
53.
To qualify under Rule 147 exemptions, only ____ of the thee 80% tests must be met
54.
A __________ is a formal arrangement by two or more parties to manage and operate a business and share its profits
55.
A red herring does not include the final offering ______ or the effective date
56.
In a _________ brokerage account, the customer selects one member firm to provide custody while other firms handle all trades
57.
In a firm commitment offering, the underwriter is acting as a _______ in the transaction
58.
Firms must have established _______ to maintain, review, and supervise communications transmitted via electronic communications
59.
Mutual fund performance predictions are ______ in communications
60.
A sole _______ is the simplest for of business organization and is easy to create and easy to dissolve
61.
The form of state registration where the issuer files with the state, independent of federal registration, and must meet all state requirements
62.
___________-basis suitability states that the recommendation must be suitable for at least some investors
63.
The firm in which a customer would like to transfer their assets to is referred to as the ________ firm
64.
The preliminary prospectus, also known as a ____________, is used to gauge investor reactions and gather indications of interest for corporate securities.
65.
Some investors will receive a ______ if they would like more information that is not found in the mutual fund prospectus.
66.
______ content is typically posted for the long term and is fixed in nature
67.
A final prospectus is also known as a _______ prospectus
68.
Mutual funds provide a _______ prospectus to investors and may include an application
69.
To safeguard against the possibility of churning, a designated supervisor or manager must review all trading activity on discretionary account frequently and __________
70.
Under Regulation D. a maximum of _____ nonaccredited investors can participate
71.
When transferring an account, the customer signs a _____, which is sent to ACATS by the receiving company
72.
A _________ advertisement only has minimal information, such as the name of the issuer and type of security.
73.
Duties of the ________ include raising capital for issuers by distributing new securities and helping issuers comply with securities laws
74.
A __________ account is an investment portfolio that is professionally managed by a brokerage firm for a flat fee that is charged quarterly or annually. The fee is based on total assets under management (AUM)
75.
FINRA Rule 3210 requires that an associated person obtain the prior ______ consent of their employee when opening an account at another member or other financial institution
